“System” means an eligible small-scale renewable energy system under the RET or an eligible installation under the VEET;

“System Owner” means the person/company/entity that is the owner of the System installed (or to be installed) by the Installer wishing to assign (or has assigned) their STCs and/or VEECs to GBT or the Installer;

(a) that You have not previously assigned or created any STCs/VEECs for the System within the deeming period, if relevant.

(b) that once STCs/VEECs are uploaded by Us into the registry You cannot withdraw your assignment.

(c) that STCs/VEECs are a commodity like shares and are subject to supply and demand pressures, which may affect the price You receive.

(d) that GBT cannot be held liable for forms that have not been received by Us. If You are faxing Your forms in, please print off a fax communications report at the end of Your transmission to verify the number of pages actually sent.

(e) that You will have to repay the amount of the STC/VEEC payment to GBT should Your Assignment Form be invalid or if GBT is unable to create the STCs/VEECs with the Regulator.

(f) For 6 years beyond the period You have assigned the right to create STCs/VEECs, You must retain proof of your purchase of the System and proof of its installation including the installation date, and make that information available to GBT or to the Regulator on request.

(g) Provide additional audit and other information required by the Regulator within the two-week or other time frame under the RET/VEET if requested by GBT. To satisfy auditing requirements, GBET may be required to make contact with the system owner.

(h) the Installer must not pre date or pre sign any Assignment Forms before the installation has occurred.

(i) GBT has the right to refuse or return any Assignment Forms at any time.

(j) STC/VEEC claims must be received by Us within 11 months of installation to allow GBT processing time. Please contact GBT on the day of submission to ensure Your application has sufficient processing time.

(k) GBT reserves the right to update/amend these terms and conditions and the Installer Agreement at any time. Current terms & conditions are available at www.green-bank.com.au or will be made available upon written request. (l) Your applications must be submitted on Our current form. Please check our website www.green-bank.com.au to ensure You are using the most recent form.

(ei) GBT will issue You an invoice for the re-payment amount. Payment terms will be marked on invoice.

(eii) If You do not repay within Invoice terms GBT can take outstanding amount owed from claims submitted by You.

(eiii) If You do not repay GBT has the right to submit your outstanding debt to GBT preferred Debt Collection Services.

4. Payment Terms
Acknowledgments, representations and warranties.

You acknowledge, represent and warrant:

(a) At regular intervals GBT sets the price we are willing to pay for STCs/VEECs and informs our network of installers and other suppliers of that price. For each STC/VEEC GBT are assigned the right to create, GBT will pay the price prevailing at the time we upload the details of your claim into the system.

(b) If GBT needs to verify any information and the price changes by the time the information is received, we will pay the lower price.

(c) For Assignment Forms where GBT is paying the System Owner or other third-party payee, payment for these STCs/VEECs will be made upon approval from the regulator. This policy is in place to prevent issues arising in circumstances where STCs/VEECs have been paid for but cannot be properly created for any reason.

(d) GBT is offering 3-5 day payments and or where possible next business day payment for STCs submitted by account holders using Formtrack, our online STC management system. For all paper submissions with complete true and correct forms GBT is offering 3-5 day payments. Forms that have missing information, incomplete or non-compliant with the current regulations may /will incur a delay in payment.

(e) A 3-5 business day payment turnaround time frame for VEECs is applicable for complete and correct forms. Forms that have missing information, incomplete or non-compliant with the current regulations may incur a delay in payment.

(f) All VEEC lighting claims will be paid upon approval from the Essential Services Commission.

(g) Account holding options available to customers that regularly trade with GBT and at GBT’s discretion.

5. Carbon Projects – Emissions Reduction Fund:

GBT is an accredited party under Emissions Reduction Fund (ERF) pursuant to the Carbon Credits (Carbon Farming Initiative) 2011 (Cth) and holds a valid Australian Financial Services Licence to advice, trade and offer pricing for Australian Carbon Credit Units (ACCUs).
GBT offers a range of services to parties wishing to participate in the ERF, such as:

(a) be the “participant/project proponent” for such projects on behalf of the original site owner (i.e. you assign to us the legal right to carry out the project and we contract with the clean energy regulator); or

(b) be the original site owner’s “agent” (the site owner retains the legal right to carry out the project and contracts with the clean energy regulator); or

(c) be the original site owner’s advisors (we provide legal, financial product and market advise to our clients).
We offer pricing for the above services on a project by project basis.

6. Large-Scale Generation Projects

(a) GBT is a responsible person under the RET and eligible to create Large-Scale Generation Certificates (LGCs).

(b) We offer the following services to developers of large-scale generation projects (in excess of 100Kw), such as:

(c) Being co-operator/owner of the facility and taking responsibility for creating LGCs;

(d) Being the developers agent for the purpose of creating LGC and complying with the RET;

(e) Being the developers advisors in respect of the RET.
(f) We offer pricing on the above services on a project by project basis.

7. GST Registered Entities & Recipient Created Tax Invoices (RCTI)

(a) The recipient (GBT) and the supplier (System Owner) declare that this agreement applies to supplies to which a tax invoice relates.

(b) In accordance with Australian Tax Office requirements, the recipient can issue tax invoices in respect of these supplies.

(c) The supplier will not issue tax invoices in respect of these supplies.

(d) The supplier acknowledges that it is registered for GST and that it will notify the recipient if it ceases to be registered.

(e) The recipient acknowledges that it is registered for GST and that it will notify the supplier if it ceases to be registered for GST.

(f) Acceptance of this RCTI constitutes acceptance of the terms of this written agreement.

(g) Both parties to this supply agree that they are parties to an RCTI agreement.

(h) The supplier agrees to notify the recipient if the supplier does not wish to accept the proposed agreement within 21 days of acknowledging acceptance of this document.

(i) The recipient will send RCTI to the email addresses provided of both the supplier and the installer or as required.

Calculators

Trade with us

Forms

ABN: 24 604 328 734. AFSL number: 427921. The information contained in this web site is not investment advice or financial product advice and has been prepared without taking into account your investment objectives, financial situation or particular needs. You should seek your own professional advice before making a decision about whether to acquire the financial products discussed in this document and you must obtain a PDS from us prior to making a decision about entering into any financial product transaction with us.